Bankruptcy
Luxury retailer Saks Global files bankruptcy after turnaround fails
US$1 billion debtor-in-possession financing, pending court approval, will fund Saks’ operations and turnaround[NEW YORK] Saks Global Enterprises filed for bankruptcy to address mounting losses and a substantial debt load...
Saks mulls bankruptcy year after raising billions for turnaround
SAKS Global Enterprises, facing limited options ahead of a more than US$100 million debt payment due at the end of this month, is considering Chapter 11 bankruptcy as a...
What happens to Roombas now that the company has declared bankruptcy?
Roomba maker IRobot filed for bankruptcy and will go private after being acquired by its Chinese supplier Picea Robotics.Founded 35 years ago, the Massachusetts company pioneered the development of...
Court approves sale of 23andMe to nonprofit led by co-founder Anne Wojcicki
23andMe, a distressed genetic testing company that filed for bankruptcy this year, has received another potential lifeline. A bankruptcy judge approved the sale of the company’s assets and business...
Struggling semiconductor firm Wolfspeed files for bankruptcy
[NEW YORK] Wolfspeed, a chipmaker caught in US President Donald Trump’s push to reshape Biden-era tech subsidies, filed bankruptcy to enact a creditor-backed plan to slash US$4.6 billion in...
Chipmaker Wolfspeed nears bankruptcy deal with lenders including Apollo
[WASHINGTON] Struggling chipmaker Wolfspeed will be taken over by creditors including Apollo Global Management under a proposal that would put it into bankruptcy just long enough to slash billions...
Microsoft-backed Builder.ai set for bankruptcy after cash seized
[LONDON] Builder.ai, the British artificial intelligence startup backed by Microsoft and the Qatar Investment Authority, is filing for bankruptcy after the chief executive officer said a major creditor had...
23andMe sells gene-testing business to DNA drug maker Regeneron
Bankrupt genetic-testing firm 23andMe agreed to sell its data bank, which once contained DNA samples from about 15 million people, to the drug developer Regeneron Pharmaceuticals for $256 million.The...
